On Tuesday, Champ Bailey and the club agreed to terms on a new four-year contract.

"We want Champ to finish his Hall of Fame career as a Denver Bronco,” Elway wrote.

On Tuesday, that priority became a reality, as Bailey and the club agreed to terms on a new four-year contract.

"Champ is truly one of the NFL's elite players, a 10-time Pro Bowler who is playing at the absolute highest level," Elway said. "He demands greatness from himself at all times and is going to play a big part in returning the Broncos to championship contention. The commitment that Champ has shown to the Broncos, the city of Denver and this region is exemplary. He's been rightfully embraced by our community for how he's represented the Broncos with his play as well as his generosity and charitable efforts as a two-time Walter Payton Man of the Year nominee."

In an offseason in which the Broncos will look to add a playmaker with the No. 2 pick in the 2011 NFL Draft, the team has now already locked up one of the league's most proven playmakers.

Bailey's 10 Pro Bowls mark the most in league history by a cornerback, and his six as a Bronco are tied for fifth in team history.

The 13-year veteran is tied for sixth all-time among Broncos players with 30 interceptions with the club. His 48 career interceptions are tops among cornerbacks and third among all players in the NFL since his rookie season in 1999. That production earned him a spot on the NFL All-Decade team for the 2000s.

Last season, Bailey accumulated 45 tackles, a sack, two interceptions and 13 pass breakups. His campaign highlights included holding Chiefs receiver Dwayne Bowe without a catch and keeping Cardinals wideout Larry Fitzgerald out of the end zone while breaking up two passes intended for him and drawing an offensive holding penalty against the receiver.

"The talent and leadership that Champ Bailey brings to the Broncos made it very important for us to keep him with the organization," Head Coach John Fox said. "I have admired him for a long time and I really look forward to having him on our team."